Europeans seize multimillion-dollar oligarch yachts as Russia sanctions bite

Alexey Mordashov’s 213-foot yacht was seized in Italy, according to White House press secretary Jen Psaki. Giuliano Berti/Bloomberg via Getty Images

new york post

    Three European nations have seized half a dozen luxury yachts owned by Russian oligarchs as a result of the latest sanctions against Moscow over Russia’s invasion of Ukraine, the White House revealed Tuesday.
    The confiscated vessels include Alexey Mordashov’s 213-foot yacht, Gennady Timchenko’s 132-foot watercraft, and Audrey Melnichenko’s $578 million, 469-foot  superyacht — all seized in Italy, press secretary Jen Psaki confirmed during her regular briefing.
    Spain took possession of Sergei Chemezov’s $140 million yacht, while Igor Sechin’s 280-foot, $120 million boat was impounded in France.
    Additionally, an $18 million resort was seized in Sardinia. 
    Spanish Prime Minister Pedro Sanchez revealed Monday that Chemezov’s yacht — the Valerie — was moored in Barcelona.

Gennady Timchenko’s 132-foot yacht was also seized by the Italian government.
Giuliano Berti/Bloomberg via Getty Images

Italy also seized Audrey Melnichenko’s 469-foot superyacht, which is valued at  $578 million.
Xavier Francolon/SIPA

    “Today we have temporarily immobilized a yacht of one of Russia’s most prominent oligarchs, and there will be more to come,” Sanchez said. 
    The seizures are among the West’s latest efforts to hit Russian President Vladimir Putin and those close to him over Russia’s brutal assault against Ukraine, which began on Feb. 24. 
    The US and other Western powers have imposed layers of economic sanctions against the Kremlin, hitting Russian-owned banks, halting Moscow’s business dealings, cutting off access to the SWIFT financial transaction system, and targeting Putin himself. 
Spain seized a $140 million yacht from Sergei Chemezov.
REUTERS/Albert Gea

Igor Sechin’s 280-foot, $120 million boat was taken in France.
AP Photo/Bishr Eltoni, File

    Following intense bipartisan pressure last week, President Biden announced a ban on Russian oil exports, which he promised would be “another powerful blow to Putin’s war machine.” 
Biden warned that while the move would “inflict further pain on Putin,” it would also lead to higher prices for gas in the US. 
    Psaki touted the effects of the economic punishments on Tuesday, pointing to the closed Russian stock market, the fall of the ruble, and spiking inflation. 
    “Our actions have hit hard at the things President Putin cares about the most: degrading his military, access to cutting-edge technology and ability to project power and influence,” she said. 
Despite the West’s efforts, Ukrainian President Volodymyr Zelensky has repeatedly urged the US, UK and other nations to do more militarily — particularly through imposing a no-fly zone. 
    The NATO alliance has stubbornly resisted such a move, viewing it as a dangerous escalation of the conflict that could lead to war with Russia.
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